The new ID verification and AML Screening tools will ensure compliance and a secure customer onboarding
Kaunas, Lithuania (December 15, 2022) – the automated ID verification, fraud prevention and compliance tools provider, iDenfy, announced joining forces with UpStack, the premium staffing solution for fast-growing companies. iDenfy’s AI-powered ID verification combined with AML Screening will enhance UpStack’s security system and ensure complete compliance with ever-changing regulations.
The increasing reliance on automated tools stormed many industries, including the HR sector. As claimed by UpStack officials, more specialists are looking for fully remote workplaces with a smooth application process. Consequently, hiring teams now need to adapt to this changing scenery and start looking for more secure and efficient ways to automate recruitment while cutting costs.
UpStack agrees with this approach. UpStack’s industry centers on HR, offering a premium staffing solution that fast-tracks the tech hiring process with personalized matching. As the HR service provider explains, its growing circle of clients demanded more efficient security measures. On top of technical aspects, iDenfy offered accurate reports for identity checks globally, with a straightforward integration process. Eventually, UpStack chose iDenfy as its KYC and AML service provider.
To build trust and add an extra layer of security, the tech talent hiring hub started to look for identity verification providers that could create a smoother application process for its customers without compromising security. The partnership with iDenfy helped achieve this goal. Currently, iDenfy’s full-stack identity verification solution protects UpStack from identity fraud and human error possibilities, helping streamline an easy four-step verification process.
Integrating iDenfy’s solutions allowed UpStack to onboard clients with an average verification time of 50 seconds. Each identification includes premium OCR data extraction and real-time document matching. Additionally, iDenfy’s AML Screening solution checks each applicant against global watchlists, sanctions lists, and adverse media databases.
The verification process is carefully monitored by iDenfy’s in-house KYC specialists, who review each applicant’s information in real-time and guarantee accuracy. This way, according to iDenfy, the company prevents fraud while improving the number of successful verifications. According to UpStack, iDenfy’s software has already spotted 3 cases where individuals were trying to provide false documentation.
“Our team appreciates the new partnership with iDenfy. Their KYC and AML services made us feel more secure and in control when onboarding globally distributed talent.” — said Roxanna Duta, the Head of Talent at UpStack.
Domantas Ciulde, the CEO of iDenfy, added: “AI-powered tools, such as identity verification and AML Screening, have been proven useful in many different fields, which is a huge step forward towards a safer digital environment.”
iDenfy, a platform of identity verification services and fraud prevention tools, ensures AML and KYC compliance for every company — from large-scale businesses to small organizations. The rapidly growing business was named the best “Fintech Startup” in 2020. The company also received recognition for winning a Baltic Assembly Prize for innovation in 2021.
For more information and business inquiries, please visit www.idenfy.com.